DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Casino Responds To ‘Grossly Erroneous Allegations’ By Muddy Waters Capital

By Steve Wynne-Jones
Share this article
Casino Responds To ‘Grossly Erroneous Allegations’ By Muddy Waters Capital

Groupe Casino has slammed a report by Muddy Waters Capital that suggested that the ‘Casino debt burden is dangerously high and is only being managed for the short term’.

In a statement, Casino said the report is an ‘obvious intent to harm Casino, its employees and its shareholders’.

It added that ‘this accusatory report contains grossly erroneous allegations that the Group will answer in detail’.

‘In light of this dissemination of misleading information, Casino Group has filed a claim with the Autorité des Marchés Financiers and reserves the possibility to exercise its rights before national courts, including criminal courts.’

Muddy Waters Capital is a research firm founded by short-seller Carson Block.

ADVERTISEMENT

In the report, Muddy Waters also suggested that Casino was one of the ‘most overvalued and misunderstood’ companies it had ever come across’.

© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.